General Motors Company (NYSE:GM) Rating Increased to Strong-Buy at ValuEngine

ValuEngine upgraded shares of General Motors Company (NYSE:GM) (TSE:GMM.U) from a buy rating to a strong-buy rating in a research note issued to investors on Friday.

A number of other research analysts have also recently commented on the company. Nomura restated a buy rating and issued a $47.00 price target on shares of General Motors in a research report on Tuesday, May 2nd. BidaskClub upgraded General Motors from a hold rating to a buy rating in a research report on Wednesday, June 14th. BMO Capital Markets restated a market perform rating on shares of General Motors in a research report on Wednesday, May 3rd. CLSA initiated coverage on General Motors in a research report on Wednesday, June 21st. They issued a hold rating and a $37.00 price target on the stock. Finally, Morgan Stanley initiated coverage on General Motors in a research report on Wednesday, June 28th. They issued an overweight rating and a $40.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $39.38.

Shares of General Motors (NYSE:GM) opened at 35.98 on Friday. The firm has a market cap of $52.43 billion, a P/E ratio of 6.26 and a beta of 1.45. The stock has a 50 day moving average of $35.21 and a 200 day moving average of $35.24. General Motors has a 52 week low of $29.82 and a 52 week high of $38.55.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 EPS for the quarter, topping the Zacks’ consensus estimate of $1.72 by $0.17. General Motors had a return on equity of 22.45% and a net margin of 5.38%. The company had revenue of $36.98 billion for the quarter, compared to analysts’ expectations of $37.67 billion. During the same quarter last year, the business earned $1.86 earnings per share. General Motors’s revenue was down 1.1% on a year-over-year basis. Analysts anticipate that General Motors will post $6.13 earnings per share for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be given a $0.38 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.52 annualized dividend and a yield of 4.22%. General Motors’s dividend payout ratio is currently 26.48%.

In other news, insider Stefan Jacoby sold 2,686 shares of the company’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $33.85, for a total transaction of $90,921.10. Following the transaction, the insider now owns 80,379 shares of the company’s stock, valued at approximately $2,720,829.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jane L. Mendillo purchased 1,520 shares of the company’s stock in a transaction dated Friday, May 26th. The shares were purchased at an average cost of $32.92 per share, for a total transaction of $50,038.40. Following the transaction, the director now directly owns 3,120 shares in the company, valued at $102,710.40. The disclosure for this purchase can be found here. In the last three months, insiders sold 139,158 shares of company stock worth $4,643,312. Insiders own 0.04% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of GM. IFC Holdings Incorporated FL boosted its position in shares of General Motors by 83.3% in the first quarter. IFC Holdings Incorporated FL now owns 32,031 shares of the auto manufacturer’s stock worth $1,141,000 after buying an additional 14,559 shares in the last quarter. Suntrust Banks Inc. boosted its position in shares of General Motors by 29.5% in the first quarter. Suntrust Banks Inc. now owns 226,531 shares of the auto manufacturer’s stock worth $8,008,000 after buying an additional 51,539 shares in the last quarter. Mosaic Family Wealth LLC boosted its position in shares of General Motors by 9.9% in the first quarter. Mosaic Family Wealth LLC now owns 10,025 shares of the auto manufacturer’s stock worth $354,000 after buying an additional 900 shares in the last quarter. Granite Investment Advisors LLC boosted its position in shares of General Motors by 13.5% in the first quarter. Granite Investment Advisors LLC now owns 333,395 shares of the auto manufacturer’s stock worth $11,789,000 after buying an additional 39,598 shares in the last quarter. Finally, Deane Retirement Strategies Inc. boosted its position in shares of General Motors by 68,080.0% in the first quarter. Deane Retirement Strategies Inc. now owns 68,180 shares of the auto manufacturer’s stock worth $2,411,000 after buying an additional 68,080 shares in the last quarter. 76.04% of the stock is currently owned by hedge funds and other institutional investors.

About General Motors

General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.